Provide assurance to your suppliers when complying documents are presented
Build relationships with clients and support new business opportunities with a DBS Letter of Credit. We issue a Letter of Credit at your request, assuring payment up to a stated amount within a prescribed time. We check the documents received to ensure they are in compliance with the Letter of Credit terms and certify them before you make payment.
Why choose DBS Letters of Credit Issuance?
The common types of letter of credit are:
Sight Letter of Credit
The issuing bank will honour the payment at “sight”, which means the payment will be made once the documentation received is in order
Usance Letter of Credit
The issuing bank will accept the draft once all documentation received is in order and agree to pay on the maturity date
|Transferable Letter of Credit|
This is usually used by middleman traders who do not enjoy a credit facility. DBS will transfer the Export Letter of Credit in favour of the ultimate seller at the request of the middleman, who will then sell the goods under the Export Letter of Credit
This is typically used to assure that the applicant will meet the payment obligations or contractual performances specified. Another commonly used product in this situation is a Banker’s Guarantee
0.15% per quarter or part thereof, min INR 2,000
Up to ten days: 0.15% flat
Ten to 90 days: 0.30% flat
Over 90 days: 0.30% flat for first three months + 0.1% per additional month or part thereof
With FX: 0.15% flat, min INR 1000
Without FX: 0.25% flat min INR 1000
Non-financial: INR 1,500 flat + cable
Financing: same as LC Issuance
INR 1,000 flat
USD 100 (or equivalent)
Cable – LC issuance
Cable - payment/ retirement/ advise of acceptance/ refusal
No, you must obtain a credit facility with DBS before we can issue a Letter of Credit to your sellers. Please visit us at any of our Branches should you require a credit facility.
Yes. We issue the Letter of Credit and advise through our network Branch or agent bank in the event that we do not have a Branch or office in the seller's country.
Awards we have won recently
Best Structured Trade Finance Solution: Sterling & Wilson Co-Gen Solutions 2013
Best Trade Finance Bank – Treasury, Trade & Risk Management Awards 2013
Best Trade Finance Solution (Highly Commended) 2012
Best Trade Finance Solution 2013
Rising Star Transaction Bank 2013